SI-BONE (NASDAQ:SIBN) Shares Up 8.1% – Here’s What Happened

SI-BONE, Inc. (NASDAQ:SIBN)’s share price rose 8.1% during mid-day trading on Monday . The stock traded as high as $14.99 and last traded at $14.83. Approximately 32,225 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 246,155 shares. The stock had previously closed at $13.72.

Analyst Ratings Changes

SIBN has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of SI-BONE in a report on Monday. Truist Financial increased their target price on shares of SI-BONE from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $23.00.

SI-BONE Stock Up 18.4 %

The company has a current ratio of 8.25, a quick ratio of 7.22 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $681.07 million, a P/E ratio of -17.65 and a beta of 1.16. The company has a 50 day simple moving average of $13.68 and a two-hundred day simple moving average of $14.21.

Insider Activity at SI-BONE

In related news, CEO Laura Francis sold 10,048 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $12.58, for a total value of $126,403.84. Following the completion of the transaction, the chief executive officer now directly owns 482,875 shares of the company’s stock, valued at approximately $6,074,567.50. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anshul Maheshwari sold 5,304 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $13.91, for a total transaction of $73,778.64. Following the completion of the transaction, the chief financial officer now directly owns 189,319 shares of the company’s stock, valued at approximately $2,633,427.29. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,348 shares of company stock valued at $356,349. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Champlain Investment Partners LLC boosted its stake in SI-BONE by 14.7% during the third quarter. Champlain Investment Partners LLC now owns 2,800,073 shares of the company’s stock worth $39,145,000 after buying an additional 358,821 shares during the period. American Century Companies Inc. boosted its stake in SI-BONE by 22.8% during the second quarter. American Century Companies Inc. now owns 1,986,476 shares of the company’s stock worth $25,685,000 after buying an additional 368,637 shares during the period. Bellevue Group AG boosted its stake in SI-BONE by 4.1% during the third quarter. Bellevue Group AG now owns 1,444,109 shares of the company’s stock worth $20,189,000 after buying an additional 56,500 shares during the period. Paradigm Capital Management Inc. NY boosted its stake in SI-BONE by 24.7% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,349,400 shares of the company’s stock worth $17,448,000 after buying an additional 267,100 shares during the period. Finally, State Street Corp boosted its stake in SI-BONE by 5.1% during the third quarter. State Street Corp now owns 1,081,871 shares of the company’s stock worth $15,125,000 after buying an additional 52,972 shares during the period. 98.11% of the stock is owned by hedge funds and other institutional investors.

SI-BONE Company Profile

SI-BONE, Inc, a medical device company, that operate to solve musculoskeletal disorders of the sacropelvic anatomy in the United States and internationally. It offers proprietary minimally invasive surgical implant system to address sacroiliac joint dysfunction and fusion, adult deformity and degeneration, and pelvic trauma; and implantable bone products.